Five Ways to Attract and Retain Top Talent
With the recession behind us and a continually improving U.S. economy, smart companies are focusing on the more pressing issues facing today’s job market. And in this candidate controlled landscape, it is all about flexibility. How are smart companies adapting to the changing job market to attract and retain top talent?
Here are Addison Group’s Top 5 Ways to Attract and Retain Quality Talent:
1. Get Creative with Compensation
There is no other way of putting it—people want to get paid. While it may seem that there are companies offering salaries with which you cannot compete, the yearly number is not the only one that will appeal to candidates. How about offering a sign-on bonus or more frequent pay increases? Though the yearly salary might still be slightly lower, these kinds of financial perks can still be highly attractive.
2. Think Ahead
Top tier employees are thinking about their long-term future with a company. Can you clearly illustrate paths toward future growth? If not, you might want to consider nailing down some specifics (what percentage of management was promoted internally vs. recruited, average number of years spent in a role prior to a promotion, etc).
3. Understand and Appreciate Work/Life Balance
Addison Group’s generational survey, which highlighted the differences between workplace preferences in millennials, Gen Xers, and Baby Boomers, resulted in the majority (of all three generations surveyed) choosing work/life balance ahead of internal growth, benefits, and learning opportunities as a characteristic of an ideal position. Communicating and demonstrating an appreciation for work/life balance will make your company stand out to candidates and help you attract and retain top talent.
4. Observe and Comment
Our generational survey also revealed that a significant number of workers (across all generations) value insightful, honest feedback from managers. Constructive criticism not only improves the quality of work produced, but also allows employees to feel that their contributions to the company are valued.
Though the above tactics are meant to apply to all three generations in our current workforce, it is also important to understand the nuances involved in managing different age groups. Want to attract and retain top talent? Be sure to understand the ways in which your employees want to be managed.
In today’s competitive job market, it is important for companies to stay abreast of workplace trends. Addison Group’s experienced professionals educate clients on how best to adapt and meet the ever-evolving needs of the candidate marketplace. Need an employee? Contact Us today to learn more about our qualified pool of candidates!